Payables

ACH Payments

An ACH (or Automated Clearing House) transaction is a batch-processed electronic transfer between two banks or financial institutions. ACH transactions can be credit, which include direct payroll deposits, or debit, such as loan payments.

INB gives companies more reliability and convenience with ACH transactions. Your company can initiate ACH transactions online on a schedule that fits your needs. Funds from different stores or locations can be consolidated into one account.

Direct Deposit

Direct deposit means that your company or organization is able to transfer payments electronically into the checking or savings account of an employee, retiree, taxpayer or shareholder.

Using direct deposit services from INB will save you the time of processing and reconciling your accounts and save you the costs that occur from reissuing checks. Direct deposit is facilitated through direct transmission of a payments file or encrypted internet ACH file and the payment can usually be divided among multiple accounts if needed.

Direct deposits can be used for many types of payment, including:

Payroll

Annuities

Bonuses and commissions

Dividend and interest payments

Pensions

Travel expense settlements

Direct deposit provides your business with:

Reduced overhead. Your business will see lower issuance, delivery and reconciliation costs.

Give us a call at 217-747-5500 or 877-771-2316, so we can put together a program of direct deposit services that fits your needs. INB also offers a special package for your employees who choose to bank with us. We’re available to come to you, meet your employees, answer questions and provide assistance to your employees who are interested in opening accounts with INB.

Account Reconciliation

Reconciling a corporate account can take many hours – time away from your company’s mission. With INB’s comprehensive account reconciliation services, you can streamline your process using our user-friendly account reconciliation products designed to grow with your company…and help your company grow.

INB provides many reconciliation options, so you will only receive the information that your company needs and wants. We can perform the entire reconciliation for you in any medium, such as electronic or paper-based. Or we work with you to automate your internal reconcilement by providing an electronic file detailing all items paid during the cycle.

Partial Reconcilement. INB provides you with detailed information on all checks paid on your account, including check numbers, paid dates, and dollar amounts sorted by check number. We can add Positive Pay (add link) to this service to help protect your company against fraudulent activity.

Deposit Reconcilement. A single checking account tracks deposits from all of your branches or stores. We’ll provide a detailed listing of deposits by store or location.

With INB’s account reconciliation services, your company will see increased efficiency and improved control. Benefits of account reconciliation services with INB include:

Advanced technology to automate the reconciliation process, saving time and costs with reduced potential for errors.

Simplified reconcilement procedures with more internal control.

A variety of reporting options that gives you direct access to critical information.

Expedited research with INB’s Image Check Warehouse service that allows you to view images of your paid checks 24 hours a day.

For more business solutions, learn about INB’s trust and wealth management, commercial loan options, and additional business products.

Positive Pay

INB’s Positive Pay Service is the most effective way to protect your company against check fraud. The service provides convenience, protection and peace of mind.

With Positive Pay, your company sends a file of issued checks to INB. As checks clear, INB automatically compares the account number, check number, and dollar amount to the file of issued checks. If those components do not match exactly, the check becomes an “exception item.”

INB notifies your company of the exception items and their corresponding check images online each business day. Your company then determines the authenticity of each check and selects the option to pay or not pay that item online. Fraudulent items are returned by INB unpaid.

With INB’s Positive Pay Services, your company can:

View exception reports. Positive Pay Service allows you to view the exception report and corresponding check images online. Through a drop-down menu, you can then provide instructions to pay or return a check.

Use our Check Warehouse. A Check Warehouse stores images of cleared checks online for a timeframe specified by you. You can generate reports and perform inquiries based on data from the issue file as well as data that INB has captured, such as claim numbers or invoice numbers. After the report is generated, you can view corresponding images of all the cleared checks.

Wire Transfer

We over wire transfer services for your business. A wire transfer is a method of electronic funds transfer from one person or entity to another. You ca make a wire transfer from one bank account to another or by transferring cash from one place to another.

Business Visa Credit Card

For customer service or to report a lost or stolen card, call 1-800-221-5920.

The INB Commercial Visa® card simplifies financial management by offering the flexibility of procurement, travel and entertainment, and fleet management (or any combination of the three) on a single platform. It also provides you with the flexibility and controls needed to ensure an efficient procurement process.

With INB’s Commercial Visa® Card, you are able to set purchase and transactions limits for your whole company, for different departments or divisions, or for each individual employee, allowing for full control over use. Limits may be set to restrict card use to specific types of merchants or suppliers, or to establish spending limits for specific time frames.

You can easily control employee use of an INB Commercial Visa® card thanks to the flexibility of spending guidelines. You can segment employee card use into categories applicable to reporting structures and authorize spending categories for each employee. For example, if your administrative staff only needs procurement functionality, you could restrict purchases in the traditional travel and entertainment categories.

With a Commercial Visa® card from INB, you get to choose the most convenient way to receive transaction details. You may opt for a “Corporate Bill,” so cardholder charges may be consolidated into a single invoice for centralized billing and accounting while individual cardholders receive detailed memo statements, allowing them to easily reconcile charges. Or you can set up on an “Individual Bill” where cardholders receive detailed statements and are responsible for processing them through your accounting department.

Customer service is available 24 hours a day, 365 days a year via a VRU or live customer service representative. The VRU and live agents are available in either English or Spanish. Agents help cardholders with a wide range of inquires such as lost cards, account information, and product education.

With Illinois National Bank's Commercial Visa® Card, you will enjoy exclusive benefits and programs that enhance purchasing convenience and value, while saving your company money.

Contact us for an application or call us at 217-747-5500 or 877-771-2316 to learn more.

Business Visa Debit Card

INB’s Business Visa Debit Card allows you to pay business expenses directly from your checking account. By allowing you to establish credit limits per user and providing cards to employees who are not signers on your account, you keep your business running efficiently with the needed checks and balances.

With your debit card, you can make one-time payments to creditors or make ongoing, regular payments.

Contact us for an application or call us at 217-747-5500 or 877-771-2316 to learn more.

INB is regulated by the Office of the Comptroller of the Currency.Our website contains links that will take you from the Illinois National Bank website. These sites are not operated by the Bank. INB does not provide and is not responsible for the content of the linked sites. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of our website. We encourage you to read and evaluate the privacy and security policies of the linked site, which may be different than ours.

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